What Happens When a Business is in Distress?
What happens when a company faces financial distress? The options can be complex!
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What is Assignment for the Benefit of Creditors?
company. The ABC provides for the appointment of an independent fiduciary representative – known as an assignee. The assignee manages the orderly wind down of the business and monetizes the company’s assets for the benefit of the company’s creditors. The assignee will then distribute the proceeds generated from the sale of the company’s assets to the company’s creditors according to state law.
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The Chapter 11 Process
Understanding restructuring options can be complex. What happens when a Chapter 11 filing is pursued? We’ve put together a helpful guide to understand and contemplate what happens before a Chapter 11 filing, and what happens when the process begins. Key takeaways: When facing Chapter 11, there are generally three scenarios: Reorganization and restructuring of debt, … Continued
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Resolute Appointed as Chapter 11 Trustee over 15 Franchise Restaurants in Three States
The United States Bankruptcy Court for the District of Montana appointed Jeremiah Foster on October 27, 2015 as Trustee in the case of Shoot the Moon, LLC. The case involves the reorganization of 15 Chili’s and On the Border franchise restaurants located in Montana, Idaho, and Washington.
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